Networking is a great way to generate business leads, whether it’s a new partner for a future project or a new customer. It’s also a good way to meet other small business owners and to stay up-to-date on the latest trends in your industry. Networking provides you with a wealth of knowledge from which to draw ideas, gain perspective, and ultimately grow your business.
If you know you need to be networking with other small businesses but have been procrastinating, this new year is a great time to remedy that. Here are seven helpful strategies to successfully network with other businesses to get you started off on the right foot:
1. Find Small Businesses Online
Find other small business owners to connect with online. They can be from your industry or within your community. If you don't have a Facebook Page for your small business, create one, then follow other small business owners on social media to show interest in their business. Even better, mention their business or product in a tweet or Facebook post. This creates goodwill among other entrepreneurs, and they might return the gesture in your favor.
Another way to make online friends is to blog and join other small business bloggers to network with. You may even find that you want to trade guest posts between your two businesses. This helps build your brand by creating your credibility your industry. You can also blog about other small businesses you admire and this builds friendships as well as back links.
2. Join Organizations
Your time is limited, but participating in an industry-specific organization, small business associations, or your local chamber of commerce can be beneficial for your business. Be sure to consider your goals, customer needs, and what you want to gain from the membership when selecting an organization to join. You also want to consider how many active members are in the group, how many events are hosted each year, and (if applicable) the cost of the annual dues.
These groups can connect you to influencers in your industry, offer development opportunities, and help you find resources if you find yourself in an unfamiliar situation. In addition, you’ll be able to attend the group’s events for more networking opportunities. Some groups also help members receive discounts on common services such as shipping and handling or insurance. Others will contact state and federal lawmakers on behalf of their members regarding legislation that could impact business.
If you have time, consider taking on a leadership role in the organization. This will get you and your business more exposure among the members and keep you among the first to know about changes in your industry.
3. Attend Conferences
Attending conferences does take time and money, but if you choose the right ones, you will find that the cost is well worth it in the returns you gain from networking. Do you research. Find out how many people typically attend the event and the caliber of speakers who present. Google the event to find social media posts from previous years to see what people said about it.
A large conference or event also connects with many more people in your field, including prominent influencers. It’s also a good time to catch up with people from your field you haven’t spoken with in a while.
You could attend classes to learn something new or boost your skills. Check out the itinerary before arriving to make sure you can get into the sessions that will be most valuable. Although conferences can get expensive, you might be able to split the cost of a hotel or carpool if someone else you know is going, too. Or check the social media page of the conference to see if anyone near you is attending. Looks like the value of those other tips already is paying off.
In addition to the extra networking you’ll be able to do, attending a conference has another benefit: It gives you a change of scenery. As small business owners, it’s easy to get in the rut of only going home or to work. This quick change could give you a creative boost or refresh your mind.
Be sure to attend some of the social events too. It’s a good way to network in a different setting and recharge your batteries.
4. Cross-Promote and Partner Up
A great way to network with another small business is to partner with it. This will get your brand in front of a whole new audience. Cross-promoting could be anything from pooling your resources to sponsoring an event to bundling your products together.
It can be as simple as printing joint promotional messages on each other’s receipts or hanging signs or posters to advertise for one another in your respective businesses. You also could drop each other’s flyers in your customers’ shopping bags.
If you want to step it up, you can create promotional videos to post on each other’s social media or create a joint ad to put in local shopping papers. If the partnership works out, you can use it as a successful example to partner with another business later.
5. Volunteer
Volunteering is a great way to get out in the community and network with people. Not only does it put you in direct contact with other small businesses, but it could make your brand more visible in the community.
One way to volunteer is to take a seat on the board of a local nonprofit organization. Often, these boards are comprised of other business leaders, and having the organization as a common interest is a great way to break the ice to connect with them.
You also could partner with local businesses for a philanthropic event such as a neighborhood cleanup day, school supply giveaway, or food drive. Give your employees matching T-shirts featuring participating businesses’ logos to wear at the event as a way to build brand awareness.
Don’t forget to send a press release to local media to let them know about your upcoming event and to make sure you get a larger turnout.
6. Follow Up
There’s more to networking than exchanging business cards and contact information. It’s important to take the extra time to build those relationships and nurture those connections if you want your networking attempts to be successful.
Did you want to have a deeper conversation with a particular someone? Be sure to make some sort of contact with 48 hours of the first meeting so they don’t forget about you. Emails can get lost in cyberspace or a cluttered inbox, so consider sending a personalized thank you note with your business card or a sample of your product. Explain how much you enjoyed meeting them and ask to meet again to continue the discussion.
Can’t meet in person? Set up a virtual meeting through Skype or Meetup.
When you do communicate again, don’t put the focus on yourself. See what you can offer to help first. Most people are likely to reciprocate when you have a need, and it will help foster a positive reputation.
Like most things, when it comes to networking, you get what you put in. It’s up to you to determine how you want to spend your time and money, but if you follow some of these tips, you could get more bang for your buck.
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